[youtube:http://www.youtube.com/watch?v=X43ZyUGOPyw&feature=related 450 300]

The Greatest New Wave Hit Ever to Prominently Employ an Accordian

_________________________________

Aside from that fantastic musical interlude, as written, played and sung by musical prodigy Matt Johnson of The The (no, really, that was the band’s name), who later in life went on to shave his head and post semi-lucid conspiracy rants on the internets.  And no, I kid you not– it’s kinda sad actually.   I won’t link his blog, as you’ve seen it all before.

On the trading scene, I’ve got very little to add tonight.   We only need see this dollar issue resolve.  If we are in a bull flag situation, we should quickly spurt above $78.1o on the DX-Y, and then we are “clean” out of all PM’s and miners.  I will continue to keep my Skiffles (SKF) as I believe that will be keeping me somewhat warm throughout the Mort Kondracky Winter.  A break of that $78.10 number on the dollar will actually induce me to store away more Skiffles as I await massive bank death via the whirling blades of European currency demise.

For the love of Ticonderoga pencils under $35/ a piece, please do not get shaken out too early.   I assure you it will be worth the $1 or so move on the dollar index to make sure you are not being head-faked here… again.  Whatever does happen, however, you should not head out to the moors seeking the Werewolf’s curse, or go down to your local discotheque seeking mad mad passionate love from Big Baby Glenn Rice.  Let’s keep things in perspective and ride this puppy together.

Best to you all.

___________________

 

 

 

Comments »

 

[youtube:http://www.youtube.com/user/LearnLiberty?v=KGPa5Ob-5Ps&feature=pyv&ad=7868481249&kw=capitalism%20freedom 450 300]

_______________________________

That’s the only way you’ll pry my Skiffles from me, you Happy Days Are Here Again-singing termagents!

I got rid of one half of my TZA today, because I think we are oversold,  but will I dump my SKF in a similar manner?

I will not, as I believe lovely Skiffles is a longer term hold here.   Check the monthly to see what I believe we have in store for us in the coming months:

 

I believe we may bounce around a bit here, and $BKX may even get all the way back to it’s twelve month moving average in the $45 range.  More’s the better, I say,  as I’m still not even 50% invested in Skiffles, and this is going to be the death trade going forward, by the hammers of Thor and the jockstrap of Odin.

As you can see from this chart, I think a return to the lows is all but inevitable.  However, if you extrapolate the cascade in the similar fashion as the one that precipitated the 2009 lows… well, we’ve a ways to go.

Say it with me folks… extrapolate the cascade.   Extrapolate the cascade….. EXTRAPOLATE THE CASCADE!

(Okay, don’t shout it that loud, or your wife/girlfriend/mother will think you are having difficulties with the KitchenAid dishwasher.)

I have not sold any more gold and silver… yet.  As per my announcements in The PPT,  I did add another large dollop of AUQ at the close along with a Godzilla-sized addition (temporary, to be sure) to my XRA holdings.  I think there’s something going on there, although to be clear, I know not what.  Love that late-day pennant though.

My best to you all, as always.

____________________________

Comments »

[youtube:http://www.youtube.com/watch?v=u9LcKcXpCDE&feature=related 450 300]

_____________________

Not to be overBEARing, but it looks like the US Banquing sector is going to have a rough time of it in the next couple of days.  Why not take advantage of that turmoil by setting aside some silver and gold for your posterity?

Besides, who wouldn’t want to kick “JP Morgue” in the teeth by buying silver, or so the old wives tell it?
I’m not going to tell you to do anything I wouldn’t do, so I’m not imploring you to go out and swamp your local numismatic dealer with pleas for hard bullion and coin.  I think this should be a part of your overall portfolio, but I think there are adequate substitutes still available under our current very liquid market system.   Unlike our fellows above, I don’t believe SLV and GLD are “false flag” operations designed to trick one out of one’s natural incentive to purchase physical.

I could be incredibly naive, but I trust the current rule of law enough to believe the audits of these depositories are valid.  Why?  Because the idea is too much of a moneymaker to allow it to be waylaid by a lack of credibility.  Both SLV’s iShares and State Street (GLD‘s parent) have too much invested in barriers to entry here to screw up a good thing with a fraudulent audit.   I like to use Occum’s Razor when analyzing these situations, and in this case, the easiest path to big money is to establish a creditable physical substitute.  Why screw w. that?

As you know, I also believe that another liquid path to trading gains is in the highly leveraged miners.  I don’t have to remind you that the most highly leveraged vehicles in that sector are the royalty financiers to those miners — namely RGLD and SLW of gold and silver concentration respectively.

After that there are many names, but if you want to act quickly, you are best throwing dough at GDX, GDXJ and SIL, which are the large cap gold, small cap gold and silver miner ETF’s, respectively.   I point you to these names because liquidity will be king here, and there will be volatility on top of volatility in the coming weeks.

Be ready to snatch opportunity with these vehicles and yes, by shorting the banks as opportunistically as possible through SKF, and even FAZ if you dare.  Remember to keep an extremely tight leash on both, however, for they will turn and snatch out your gizzard in the blink of an unsuspecting eye.

Best to you all.

________________

 

Comments »

There is no Bernank, Only Zuul

__________________________

I don’t have a lot of time this morning, so I’m just going to feature the chart I put together last night.   As you know, I’m increasingly bearish here, and more so on the financial sector than any other, primarily because they are — like our internal deficit and debt problems — another can that has been kicked down the road.

Back in 2008, when the world was melting into a hardened polystyrene ball thanks to the implosion of the easy money real estate bubble, banks were allowed to escape (some just barely) thanks to the ministrations of the Fisc and the Fed via TARP and other more nefarious and clandestine sources.   Worse, Freddie Mac and Fannie Mae, the twin dogs of Zuul the Destroyer, were allowed to remain in their positions of power “for the good of the market.”

In other words, little was done in regard to true reform save “shoring up” for “the good of the industry and the economy.”    Bad mortage loans are still on many books, and real estate prices have been frozen in a glacial slide to the sea, rather than being allowed to correct in a more natural — if radical — manner.

Ironically, it is not those mortgage time bombs which will kill the banks in the immediate term, as the “propping up” methodologies of Congress, The POTUS and the Fed are actually hurting the taxpayer while assisting lame banks.  No, it will be the regulatory overkill administered in the fecal kludge which is Dodd-Frank Reform Bill, also known as “the second 2,000+ page bill that no one read before voting through.”

To give the Congresscritter some defense however, we can’t blame them for the criminal act of not reading the bill, since there were hundreds of pages of regulations YET TO BE WRITTEN found within its pages.  In my opinion, this is the far more egregious and unconstitutional sin.   In the case of signing a law that carried unknown legislative directives in it, Congress is yielding it’s power to an unelected alphabet soup of Federal financial bureaucracy.

Banks are just now beginning to “implement” some of the new regs.  You are already familiar with the loss of revenue due to debit card restrictions, but there are other capital and revenue limiting aspects which will also affect banks both large and small.

Ultimately, this will likely lead to another round of consolidation,which is what the cronies in Congress would like, as they loathe competition and it’s messy donation collection implications.   Until then, banks will be a mess, and I would steer well clear of them.   If you are adventurous like me, you might even take an interest in their downfall:

As you know, I added to my SKiFfles the other day, along with a position in TZA and more TBT (which remains a hair shirt).   What you don’t know, unless you are a member of The PPT was that I also loaded up on EXK, GDXJ and AG calls yesterday afternoon.

Yet another reason to look into a subscription for The PPT as soon as possible.  My best to you all.

_________________

 

Comments »

WTF?  When we come back in a big way, we’re supposed to win the whole damn thing.

I don’t want to talk about it.

Okay, I will say one thing:  I wish I didn’t like Big Paps as much as I do.  It’s those damn ESPN commercials.

(I apologize to our foreign readers, but every now and then we’re going to talk sports and politics here.)

_______________________

I edged more to the Dark Side this day.   I added to my TBT horde… what can I say?  It’s like my own personal hair shirt.  It helps me with personal penance and such.   Reminds me of back in the day, when I was buying gold at under $300 an ounce and my dear departed Dad was laughing at me at every family gathering and occasional phone call.  Sometimes stubbornness pays off, no?

I also added to my Skiffles (SKF) horde.   I am now at about 40% of my intended position in that security.   I am not even close to the point of no return.

Lastly, I went to the Emperor Palpatine himself and bought some TZA from him today.  At the close.  It was a lot.  I don’t even want to tell you about it.  The lightning scars will likely remain for some time.

I didn’t touch anything in silver and gold.  I’m waiting to see if we’re getting some “handles” here, on what some are calling “triple top breakdowns” and what I like to call “cups w. handles.”   GDX is looking extremely appetizing here, but I will wait for it to break above that $63 range… and then I’ll probably go with GDXJ for the leverage.

Stay on your toes, and God Bless.

+++++++++++++++++++++++++++++++++++++++++

 

 

Comments »

[youtube:http://www.youtube.com/watch?v=h-S90Uch2as 450 300]

_________________________

I’ve come to speak with you again...

Because I see Bernank softly creeping

Left his seeds where I was sleeping

And the vision, that he planted in my brain

Still remains,

Echoed, in the sounds of Bernank…

__________________________

SKF — Skiffles filled the gap today on Uncle Warren’s egregious self promotional purchase of BAC preferreds this morning, and at the same time hit my buy stop in that gap.   I am still only at about 25% of my desired position in the Skiffles, and I will gnaw at my target steadily and stealthily, giving myself ample room and time to digest my purchases, like a fat gourmand at a Polish Pastry factory.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

I fully expect Skiffles to head back to the $Two Hundo$ range again, and then some (recall, it saw the $400’s in the last bank conflagration).   I smell rancid bank death upon the breath of every visiting European tourist, and no amount of spearmint freshener will remediate it.  Not even good licorice.

Meanwhile, my 30% remaining gold positions all rocketed up today, in the midst of global downfall.   Go figure.  This is why we never sell the entire core, friends.

Not yet, at least.

My best to you all.

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

 

Comments »